Friday Links
Red Hook. Photo by t_a_i_s. City Will Help Pension Plans Build Housing for Teachers in the Bronx [NY Times] Planning Rep Dolly Williams Won’t Be Reappointed [NY Daily News] Homeowners May Be Forced To Plant Trees [NY Sun] J/Z is Rated the Latest Subpar Subway [NY Post] Brooklyn Real Estate Defies Downturn [Brooklyn Eagle] From…
Red Hook. Photo by t_a_i_s.
City Will Help Pension Plans Build Housing for Teachers in the Bronx [NY Times]
Planning Rep Dolly Williams Won’t Be Reappointed [NY Daily News]
Homeowners May Be Forced To Plant Trees [NY Sun]
J/Z is Rated the Latest Subpar Subway [NY Post]
Brooklyn Real Estate Defies Downturn [Brooklyn Eagle]
From Brooklyn With Crap [Queens Crap]
Has NYC Lost its Soul? [AM New York]
nice picture.
if it looks like the what, and it walks like the what, and it quacks like the what, it’s the what
Prosecutors probing hedge funds’ demise: report
By John Spence, MarketWatch
Last Update: 12:22 PM ET Oct 5, 2007
BOSTON (MarketWatch) — The U.S. attorney in Brooklyn has started a criminal investigation into a pair of hedge funds run by Bear Stearns Cos. that had positions in mortgage-backed securities and subsequently collapsed last summer, The Wall Street Journal reported.
Federal prosecutors have made a request for information related to the hedge funds, but the probe is in the early stages and has not resulted in any subpoenas, according to a report on the Journal’s Web site. The report cited people familiar with the matter.
The meltdown in the two hedge funds — High-Grade Structured Credit Strategies Fund and High-Grade Structured Credit Strategies Enhanced Leverage Fund — cost investors $1.6 billion, the Journal reported. The funds started losing money in the spring when bets on mortgages went sour.
Bear Stearns (BSC)has been under pressure recently, cutting jobs due to losses in mortgage-related businesses. Last week, reports surfaced that the Wall Street giant was in talks to sell a minority stake to investors.